Credit Adviser

Credit Adviser

How Banks Evaluate CIBIL Score and Approve Home Loan Applications ?

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CIBIL Loan ApprovalsMany of our readers have written to us to know How Banks Process and Approve Home / Car Loans ? They further have apprehensions that their Loan Applications were turned down despite having good Credit Report and CIBIL Score greater than 800. How do we account for such a case ?

When you apply for a Housing Loan, the following steps are performed by the Lending Bank / Financial Institution.

  1. Collect all necessary Documentation where Income Proof like Salary Slip, IT Returns are of importance to our discussion.
  2.  Collect necessary Processing Fees / Debit to your Account
  3.  Pull a Fresh CIBIL / Experian Credit Report and

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Can Secured Credit Card Help in Building your CIBIL Score?

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Credit SudhaarAuthor: This article is contributed by Arun Ramamurthy, Director – CreditSudhaar

It’s funny, isn’t it, when we ask for money from established institutions and they require us to prove that we already have enough or the potential to repay them? Unfortunately for us, every lender needs a guarantee. Credit institutions exist to make our lives easier, but without the certainty that they can make business at the same time, they would cease to exist, too. We’d rather have regulated financial institutions and comply with the financial discipline that is required than fall on hard times

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CIBIL – The Key to Indian Financial Sector

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CIBIL Indian Financial SectorCIBIL is probably one of the less-appreciated success stories of India’s financial sector evolution. It is today, probably the back-bone of the relatively high-quality and disciplined retail credit build out in India.

CIBIL has over 350 Mn accounts and adding 4 million new accounts every month – of which 30% are new accounts. Almost all key financial sector participants are contributing and using data from CIBIL. It gained momentum and customer acceptance

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How to Switch On / Off Axis Bank Debit Cards ?

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India’s leading private bank, Axis Bank has introduced an innovative feature from security stand point, for its Customers holding Debit Card. The feature lets you “Switch On / Off the Debit Card” for transactions. What does Switch On / Off mean ? It means that the Debit Card cannot be used when it is Switched Off.

Why does one need Switch On / Off on a Debit Card ?
For the sake of argument one can easily say that Debit Cards always require a 4 or 6 Digit PIN for transaction authentication so why does one need the Turn On / Off feature ? The feature comes in handy for consumers like me where the Balance in the

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Axis Credit Card A/C Closed & Re-Opened – RBI Violation

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Axis Credit Card RBI ViolationA reader of our Advisory Services seek guidance in his case where he closed his Axis Bank Credit Card Account after having it for 5 years and never felt like accessing the credit line. Now Axis Bank has re-opened it and he writes as following seeking guidance under relevant Laws, Rules & Regulations guiding credit card operations in India.

I haven’t used the Axis Bank Credit Card for more that 5 years now during my last discussion with bank, requested them to close the account, which they did. Now bank is saying as per RBI guidelines, they had re-issued the chip card to me, which i

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VISA Reports Healthy Payment Metrics

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VISA Card Digital MomentumFor VISA Cards, US and Int’l payment volume growth held steady in the quarter. US purchase volume growth (+10% YoY) remained steady at last quarter’s level as tailwinds from the Chase credit portfolio conversion (from MA) were somewhat shadowed by slight deceleration in debit volume growth (likely a result of lower gas prices). International payment volume growth also remained steady in local currency. Most notably, crossborder volume growth, which had been anemic for several quarters, ticked up nicely from 7% last quarter to 10%, driven by a pick up in the EU travel from the Middle East, China, and Australia.

VISA extended a multiyear agreement with Bank of America, its second largest issuer, on both the credit and debit side that will allow

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